🌎 Bitwise Aims to Launch Aptos ETF in US Market

Bitwise Submits Aptos ETF Registration Filing, Aims to Expand Crypto Offerings

Bitwise, an exchange-traded fund issuer, has filed a registration for an Aptos ETF with the Delaware Department of State, paving the way for a potential ETF launch in the US market.

What This Means for Aptos

Approval of the registration could make Bitwise the first firm in the US to launch an exchange-traded fund that directly holds APT tokens, the native token of the Aptos Proof-of-Stake Layer 1 blockchain. This development follows the launch of several Aptos ETPs in Europe, including the Bitwise Aptos Staking ETP and 21Shares Aptos Staking ETP.

Aptos Token Sees Price Surge

Following the news of the filing, the APT token experienced a 10% rise in value, currently trading at $6.18. Despite this surge, APT has seen a decline of 6.5% in the past week, 20% in the past month, and nearly 40% in the past year.

Market Performance and Trading Volume

Aptos has accumulated a market cap of $3.6 billion and a fully diluted valuation of $7 billion. The daily trading volume for APT has reached $371 million in the past 24 hours, representing a 44% increase from the previous day.

Bitwise’s Crypto Offerings Expansion

Bitwise launched its Aptos Staking ETP on six Swiss exchanges in November 2024. The firm has also filed an S-1 registration for a Dogecoin ETF and received approval from the US SEC for its Bitcoin and Ethereum ETF 19b-4 filing.

“Investors are increasingly looking for ways to tap into the growth potential of cryptocurrencies like Aptos. A Bitwise Aptos ETF would provide a convenient and regulated way for investors to gain exposure to APT.”